Costco isn’t the first brand name to pop-up when consumers are looking for high-end luxury, but a few folks thought they had found it there when they came across low-cost Tiffany diamond engagement rings. (And they didn’t even have to buy them in bulk.) 

Unfortunately for all those customers, the rings weren’t quite the real thing. Now, Tiffany is taking Costco to court for marketing some high-end jewelry in the past few years under its brand, without permission.

“We now know that there are hundreds if not thousands of Costco members who think they bought a Tiffany engagement ring at Costco, which they didn’t,” Jeffrey Mitchell, a lawyer for Tiffany, said in a statement to Bloomberg News. “Costco knew what it was doing when it used the Tiffany trademark to sell rings that had nothing to do with Tiffany.” The company's press release says it was tipped off by a California customer in November of the alleged scam. 

This isn’t the first time Tiffany has had trouble with a low-cost seller. It battled with Overstock.com back in 2010, which had sold 1,365 pendants under the Tiffany name. It also had legal battles with eBay, claiming that the online seller was at fault for allowing some of its vendors to sell counterfeit Tiffany items, but the court never agreed with Tiffany on that one.

Tiffany seems to have a better case against Costco, which legally sells high-end jewelry brands such as Cartier, Breitling, and Chanel — not to mention other luxury brands such as Coach, Burberry and Mercedes-Benz — at select locations, such as Boca Raton, of course.

"Chinese radio and television stations are to ban advertisements for expensive gifts such as watches, rare stamps and gold coins, as part of a push by the government to crack down on extravagance and waste."

China's coming campaign of frugality was no secret. But that announcement from China's state-run media sealed the deal, and maybe the purse strings, of China's state-run spending class.

Demonstrating just how powerful a spending segment the Chinese cadre is, shares of Burberry and other luxury brands immediately dropped. Meanwhile, shares of high-end Chinese liquor brands Kweichow Moutai and Wuliangye Yibin — both of which routinely dominate China's CCTV ad buys and are a staple of state dinners — have recently dropped. Last spring, the CCP also declared that all state-owned vehicles must be domestic and carry price tags under about $30,000. That move saw brands like Audi sigh and grimace. (In 2009, a full 20 percent of Audi's China revenue was from sales to state officials.)Continue reading...

Above: In anticipation of Chinese New Year, one enterprising company is selling "Defend Diaoyu Islands" fireworks. (Japan and China continue to disagree over the territory.)

This week: KFC's hipster hip-gyrating shrimp... electric cars are Saab's last hope... lux brands recruit Mandarin speakers... badminton star Lin Dan... Apple, "Oh! Susana"... SABMiller's cold snap... how to say Ferrari, Hennessy, Goldman Sachs, and Rolex in Chinese... the soaring cost of a Shanghai license plate... and more.Continue reading...

Boeing's troubled 787 Dreamliner grounded in Japan.

JPMorgan cuts Jamie Dimon's pay, tops estimates with profit.

Dell falls from PC king to buyout fodder.

Apollo Group to offer course on innovation.

Audi bows out of sponsoring inaugural this time around.

Boeing sees Dreamliner make another emergency landing, in Japan.

Bristol-Myers Squibb plans to discuss settling Hepatitis C claims.Continue reading...

Ford tops Experian loyalty ranking as automaker earmarks "billions" for relaunching Lincoln — and may alter marque to please Chinese car buyers.

Apple stock slides on disappointing iPhone 5 sales.

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Alibaba says founder is to leave CEO post.

BMW and Mercedes-Benz are chasing younger buyers.

Brandweek is being revived, at least in name.

Burberry says own-store sales rise but wholesale suffers.Continue reading...

News of the 10-year-old Romeo Beckham's debut ad campaign — for Britain's iconic Burberry brand — broke in December. Above, watch the full spot, which Vogue UK calls fun.

Call it Babes in the Woods — Burberry is wooing fans to its Autumn/Winter 2012 collection with a new "Woodland Adventure" trailer, featuring models parading its fashions along with "magical woodland creatures" and a sprightly sountrack: "Numb" by Marina and the Diamonds.

The British luxury brand revealed its new face for Sping/Summer 2013, the offspring of two of Britain's biggest brands in their own right: Romeo Beckham, the second son of Victoria and David Beckham:Continue reading...

Burberry has opened its second largest store in North America, and while its new Chicago store may not be quite on the scale of its relaunched London flagship, it was feted with a unique local event that continued its theme of "retail as theater" and meshing digital, entertainment and fashion in one seamless experience. The store also boasts its first beauty consultation counter in North America.

The luxury brand's Chief Creative Officer, Christopher Bailey, hosted the Nov. 29 opening as a celebration of the Windy City, showcasing the city's iconic landmarks and creative community through the brand's digital platform, Art of the Trench. Music for the evening was provided by British musician Carl Barat from the Libertines, who performed a live set, followed by DJ Matt Roan. Guests at the event included actors Charlie Barnett, Billy Zane and Alex Holden, American former football player Jerry Azumah, DJ Kid Color, artist JC Steinbrunner.

According to Luxury Daily, "Burberry is partnering with the John D. and Catherine T. MacArthur Foundation to bring $2.2 million in funding to the Chicago Hive Learning Network to celebrate this store opening. The funding will go toward inspiring young people in Chicago and creating innovative educational experiences."